Open standard for Single Sign-On (SSO) → Authentication
→ Security is decentralized and URL-based
→ Users can freely choose their identity and identity provider

It’s designed to solve:
Decentralized SSO mechanism in which users choose their provider.
This provider can then specify what authentication protocol they wanna use.
OpenID is used by: Google, Microsoft, Amazon Web Service, Paypal, etc.
An Example of this would be Swiss ID.
Relying Party (RP): OAuth2.0, is the service provider (app that wants to authenticate you)
OpenID Provider (OP): Is the Identity provider that the user has chosen (he is going to authenticate you for the app)
The Relying Party (OAuth 2.0 Client) requests a signed ID Token from the OpenID Provider (OAuth 2.0 Authorization/Resource Server) to authenticate the user (OAuth 2.0 Resource Owner).